8705 63Rd StKansas City, MO 64133

Property Details for 8705 63Rd St

Year built

1952

Lot size

0.63 AC

Property type

Apartment buildings

Description

This exceptional 10-unit apartment building presents a compelling value-add opportunity in Kansas City, Missouri. Completely renovated in 2023, this turnkey property boasts a 95% occupancy rate and generates a strong 8.2% cap rate based on a gross income of $96,000 and operating expenses of $17,000. Each of the ten units features a mini-split heat pump, luxury vinyl flooring, a full bathroom, and a small kitchen setup. The building also includes a new R-13 fire suppression system and all exterior water lines have been replaced with 4" lines. Situated on a 0.63-acre lot zoned BC3-2, this property offers significant potential for future expansion in residential, commercial, or multi-family uses. Its prime location is directly on a bus route and across from a QuickTrip, Dollar General, grocery store, gym, Goodwill, and coffee shop, ensuring high tenant demand. The property can be delivered vacant or fully rented at $8,000 per month. Built in 1952, this two-story building offers a unique layout ideal for various uses, including sober living homes or group homes. Financing options include cash, conventional, lease purchase, and owner financing. All utilities, property insurance, and real estate taxes are included in operating expenses. The asking price is $700,000, representing a price per unit of $70,000. Detailed photos and a video walkthrough are available.

Location Insight

City

Kansas City

County

Jackson

State

Missouri

Latitude

39.0093

Longitude

-94.484

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